Traders were speculating at the CME as FX futures and options average daily volumes surged 64% compared to August. Traders reacted to expectations of impending policy changes from global central banks.
If you were impressed with the 38% MoM growth of FX trading as EBS reported earlier today, or the 32% increase during September at KCG Hotspot, you should be. But wait till you check out the CME Group’s numbers.
Knocking the ball out of the park, and providing their own Chicago/Aurora themed “We’re not worthy moment”, combined FX futures and options average daily volumes rose 64% during September to nearly 1.1 million contracts. On a dollar notional basis, trading is expected to be calculated at around $130Bln per day, with official results slated to be released later today from the CME.
Overall, on a total basis (factoring in an extra trade day in September versus August) 24.09 million contracts were traded, 72% above August’s figures and 46% higher than the same period last year.
As reported in September, when the CME announced several FX trading and open interest records, volumes during the month were buoyed by the ECB’s quantitative easing expansion which was announced during their monthly Monetary Policy Meeting. In addition, pound trading gained interest due to speculation on the potential results of the Scottish Independence Referendum.
Overall, currencies are seeing renewed interest from not just FX participants, but Multi-Asset traders as well, due to renewed speculation in regards to the direction of global central bank policies. After near zero interest rates in the US, expectations are that the Fed will finally begin to nudge yields higher following economic growth in the country. In addition, with the ECB now taking the lead on aggressive asset-backed purchases which are expected to keep a bid on overall government and corporate bonds, the Fed has more leeway in contracting its easing policies.
For traders, this result has led to opportunities to bet on which central banks will in fact take the lead in tightening, which is expected to lead to increased demand. In individual currencies, the expectation of rising interest rates for the US dollar led to higher yielding currencies such as the Aussie and Kiwi to weaken against the Greenback and be among the most active contracts traded on the CME (See chart).
If you were impressed with the 38% MoM growth of FX trading as EBS reported earlier today, or the 32% increase during September at KCG Hotspot, you should be. But wait till you check out the CME Group’s numbers.
Knocking the ball out of the park, and providing their own Chicago/Aurora themed “We’re not worthy moment”, combined FX futures and options average daily volumes rose 64% during September to nearly 1.1 million contracts. On a dollar notional basis, trading is expected to be calculated at around $130Bln per day, with official results slated to be released later today from the CME.
Overall, on a total basis (factoring in an extra trade day in September versus August) 24.09 million contracts were traded, 72% above August’s figures and 46% higher than the same period last year.
As reported in September, when the CME announced several FX trading and open interest records, volumes during the month were buoyed by the ECB’s quantitative easing expansion which was announced during their monthly Monetary Policy Meeting. In addition, pound trading gained interest due to speculation on the potential results of the Scottish Independence Referendum.
Overall, currencies are seeing renewed interest from not just FX participants, but Multi-Asset traders as well, due to renewed speculation in regards to the direction of global central bank policies. After near zero interest rates in the US, expectations are that the Fed will finally begin to nudge yields higher following economic growth in the country. In addition, with the ECB now taking the lead on aggressive asset-backed purchases which are expected to keep a bid on overall government and corporate bonds, the Fed has more leeway in contracting its easing policies.
For traders, this result has led to opportunities to bet on which central banks will in fact take the lead in tightening, which is expected to lead to increased demand. In individual currencies, the expectation of rising interest rates for the US dollar led to higher yielding currencies such as the Aussie and Kiwi to weaken against the Greenback and be among the most active contracts traded on the CME (See chart).
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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